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Dollar Slips as Hopes Fizzled in China's Reopening

The greenback failed to get more gains as hopes of China's reopening have fizzled. Investors remain on edge going into the new year as the optimism about China's reopening fades away.

Following China's removal of its quarantine rule for inbound travelers beginning Jan. 8, countries such as the United States, Japan and India said they would require COVID tests for travelers from China. COVID rules have overwhelmed its health system and sparked concerns about the spread of the virus.

The uncertainty over the international economic outlook, along with rising worries about a recession in the United States, saw the two-year Treasury yield, which typically moves in step with interest rate expectations, slip overnight. It last stood at 4.3678%


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